Business Glossary-Term List
Welcome to the MISMO Business Glossary - your online source of mortgage industry business terms and data point descriptions. Follow the links provided for Term Type; Focus Area; and Source descriptions; complete terms of authorized usage; and a more detailed description of the MISMO Business Glossary. Search tip: Use quotes for an exact search (e.g., "keyword or phrase").
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Search on:When true, indicates the loan contains a seasonal payment feature.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The month that the period during which payments are not scheduled ends.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The month that the period during which payments are not scheduled begins.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The two-character representation of the US state, US Territory, Canadian Province/Territory, or Military Address abbreviation (for example: AE, AP, AA).
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
When true indicates that subordinate financing is being created simultaneously with the subject loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The name suffix of the individual represented by the parent object. (E.g., JR = Junior, SR = Senior, etc.)
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #LoanDelivery, #MISMO3.4_iLAD
The date on which the title product becomes effective.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The total number of optional payments allowed during the life of the loan when this choice is permitted under the terms of the loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The number of adjustments allowed under a step agreement during the life of the loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
The total amount of subordinate financing associated with the loan.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #LoanApplication, #MISMO3.4_iLAD
An unparsed legal description of a parcel of real property.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD, #MISMO3.4_iLAD
An average of the different interest rates applicable to the transaction, based on the portions of the amount to which each interest rate applies, when multiple interest rates are applied to different portions of a loan's principal balance in a precomputed transaction.
Term Source: MISMO Logical Data Dictionary (LDD)
Term Type: Data
Focus Area: #ClosingDisclosure, #LDD
AUTHORIZED USAGE: All usage of this product is dictated by the terms and conditions within the MISMO 2018 Intellectual Property Rights (IPR) Policy. For more information, please see complete Authorized Usage / Patent Disclosure Request or contact [email protected].